RunFast Inc After the Auction It Is Announced That the Company's Shares

question 30

Essay

RunFast Inc.wants to go public.It decides to do so via a Dutch auction underwriting.It receives the following bids: $$\begin{array} { l l l } \hline \text { Bidder } & \text { Quantity } & \text { Price (EUR) } \\\hline \text { A } & 100 \text { shares } & 10 \\\text { B } & 100 \text { shares } & 20 \\\text { C } & 300 \text { shares } & 12 \\\text { D } & 150 \text { shares } & 14 \\\text { E } & 200 \text { shares } & 16 \\\text { F } & 100 \text { shares } & 8 \\\text { G } & 50 \text { shares } & 6 \\\text { H } & 200 \text { shares } & 10 \\\text { I } & 500 \text { shares } & 15 \\\text { J } & 100 \text { shares } & 12 \\\hline\end{array}$$ After the auction it is announced that the company's shares will be offered for EUR 15 per share in the IPO. The company will offer 600 shares in the IPO.How much money will RunFast raise, if allocation is done on the basis of the ratio of shares offer to shares bid at the offer price?

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